John Deere & SpaceX and Mexican GM Corn Ban
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**John Deere announced a strategic partnership with SpaceX to expand rural connectivity to farmers through satellite communications, which could have far-reaching implications for farmers worldwide.
According to www.agrimarketing.com, Deere would connect its equipment to SpaceX's satellite technology, allowing farmers to use precision ag features even in areas with poor internet connection.
Deere Vice President Aaron Wetzel says this could give farmers the opportunity to fully leverage precision ag technologies using the Starlink network.
www.agrimarketing.com/s/148065
**New non-real estate farm lending activity at commercial banks continued to decline in the fourth quarter of 2023.
Volume in the final months was about 15% less than the previous year.
The number of NEW loans did increase, but the average loan sizes were considerably lower.
The sharp climb in farm loan interest rates abated during the fourth quarter as average rates increased modestly for some loans and dropped slightly for others.
**Mexico might review, and potentially remove, its ban on imports of genetically modified white corn following its presidential election on June 2.
A hopeful Ag Secretary Tom Vilsack tells www.agriculture.com the new president, likely to be a woman for the first time, would take office on October 1.
A USMCA dispute panel is examining the U.S. challenge of the ban.
www.agriculture.com/presidential-election-in-mexico-could-change-corn-policy-says-vilsack-8414039
